Trusts and Estates
Topic of the month
The last Autumn Statement
Traditionally the Chancellor’s contribution to festive cheer has been provided in his Autumn Statement. There were almost
no announcements of direct interest to trustees, personal representatives, or those who advise them, in the Statement on 23
November 2016. Indeed, the most interesting announcement was probably that Mr Hammond’s first Autumn Statement was to be his
last. Instead the Autumn event would be the Annual Budget. The Spring Budget would become the Spring Statement after 2017,
which will be a year of two Budgets. One of the advantages of the new arrangements is that there will be more time in which
to discuss proposals, and particularly proposed legislation, before the beginning of the New Tax Year and for the formal publication
and Parliamentary consideration of the Finance Bill. It does not seem that the Finance Bill timetable is intended to be changed.